New oil researches. Government opens race for concessions
16/05/2015 00:00
President Begaj is received in the Vatican by the Pope: Albania, alongside Western allies for solutions through dialogue 06/05 21:10
For the three first blocks of fuels, those numbered 4, 5 and the one of
Dumre, the deadline for private companies to hand over their offers isd
June 15th 2015.
The deadline for the four other areas is over 10 days after this. These areas are Joni 5, Rrodoni, Panaja and Block C.
These fuel areas had been under the administration of Albpetrol so far. This company transferred them at the privates ector through indirect negotiations. With the law amends, the government is saying that the new blocks will undergo an open race and the winner will be chosen through the defined criteria.
After the process, the gareement with the winning company will be signed and approved by the Natural Agency of Human Resources.Through the activisation of the fuel searches, the government hopes to attract foreign capital to help the economy, although the oul industry is in its worse moments.
The dropped oil prices in the international markets has hit the investments in this sector, not only for the research, but also for using the existing sources. Some of the companies that exploit the oil resources in Albania have announced a cut of the investments, in order to compensate the dropped revenues But, besides the globally difficult situation, fuels are a,ong the sectors that attract most foreign investments and that carry most of the weight of national exports.a
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